The Prime Minister became the first world leader to address the Fintech festival which was launched in 2016.
Singapore – Prime Minister Narendra Modi arrived in Singapore on Wednesday for a two-day visit during which he will attend the East Asia Summit, an ASEAN-India informal meet, the Regional Comprehensive Economic Partnership summit and hold a meeting with U.S. Vice-President Mike Pence.

Here are the latest updates:
– 10:50 AM 
PM Modi meets U.S. Vice-President Pence
Mr. Modi met U.S. Vice-President Mike Pence in Singapore on Wednesday on the sidelines of the East Asia Summit and the two leaders are expected to discuss bilateral ties, including defence cooperation and the need for maintaining a free and open Indo-Pacific.

The two leaders are expected to discuss bilateral defence cooperation and a common vision for maintaining a free and open Indo-Pacific, official sources said.

Mr. Pence will be representing President Donald Trump at the ASEAN and East Asia Summit in Singapore.

As strategic partners, India and ASEAN enjoy close trade and economic relations.

Trade between India and ASEAN stood at $81.33 billion in 2017-18 and constitutes 10.58% of India’s total trade. Exports to ASEAN countries constitute 11.28% of India’s total exports.

India and the U.S. have explored ways to further deepen operational cooperation in the resource-rich Indo-Pacific region where China has been trying to spread its influence.

China is ‘coercing’ its neighbours to reorder the Indo-Pacific region to its advantage as Beijing flexes its muscles in the East and South China Seas.

India, the U.S. and several other world powers have been talking about the need to ensure a free, open and thriving Indo-Pacific in the backdrop of China’s rising military manoeuvring in the region.

-10:20 AM
Modi holds talks with Singapore’s PM Lee Hsien Loong
Prime Minister Narendra Modi Wednesday met his Singaporean counterpart Lee Hsien Loong and the two leaders discussed a range of issues, including cooperation in financial technology and regional economic integration.

Mr. Modi met Lee on the sidelines of East Asia Summit.

“PM Narendra Modi met with Prime Minister of Singapore lee Hsien Loong on the sidelines of East Asia Summit. Good exchange of views on cooperation in financial technology, enhanced connectivity and regional economic integration,” External Affairs Ministry Spokesperson Raveesh Kumar said in a tweet.

-8:45 AM
PM Modi pitches India as favourite investment destination
Mr. Modi said on Wednesday that financial inclusion has become a reality for 1.3 billion Indians as he pitched India as a favourite destination for investment at the Fintech Festival here.

Mr. Modi became the first world leader to address the festival which was launched in 2016 and is in its third edition.

“Financial inclusion has become reality for 1.3 billion Indians. We have generated more than 1.2 billion biometric identities — Aadhaar or foundation — in just a few years,” Mr. Modi said at the event.

The Singapore Fintech Festival (SFF) is already the world’s largest event on financial technology — or fintech. In 2017, the event drew as many as 30,000 participants from over 100 countries.

The SFF involves a three-day conference, and exhibition of FinTech firms and capabilities, a global competition of FinTech solutions and a platform for matching entrepreneurs and investment capital.

Mr. Modi said through Aadhaar and cellphones, his government has launched Jan Dhan Yojana and opened 330 million new bank accounts in three years.

‘Historic transition’

“These are 330 million sources of identity, dignity and opportunities. Less than 50 per cent of Indian had bank accounts in 2014. Now, it is nearly universal. So today, more than a billion biometric identities, more than a billion bank accounts and more than a billion cell phones give India by far the biggest public infrastructure in the world,” Modi said.

“We are in an age of a historic transition brought about by technology. From desktop to cloud, from Internet to social media, from IT Services to Internet of Things, we have come a long way in short time,” the Prime Minister said.

PM Modi arrives in Singapore
In a tweet, Mr. Modi thanked the Indian community for a “warm welcome amidst the rain”.

“Extremely touched by the affection of the Indian community in Singapore. Their warm welcome, so early in the morning amidst the rain, was touching. India’s diaspora makes our nation very proud. They have succeeded all over the world, in a wide range of areas,” he tweeted :-

“Extremely touched by the affection of the Indian community in Singapore. Their warm welcome, so early in the morning amidst the rain, was touching. India’s diaspora makes our nation very proud. They have succeeded all over the world, in a wide range of areas.”

High-profile meetings
The Prime Minister will have a number of high-profile multilateral and bilateral meetings with global leaders including U.S. Vice-President Pence and Singapore premier Lee Hsein Loong.

Mr. Pence will participate in a bilateral meeting with Prime Minister Modi, the White House said on Tuesday releasing the schedule of the Vice-President Pence on the eve of the meeting.

The meeting is scheduled to take place 12.30 p.m. local Singapore time, during which the two leaders are expected to discuss bilateral defence cooperation and a common vision for maintaining a free and open Indo-Pacific, the White House said.

Courtesy By :- The Hindu